SHREECEM

Feb 24 (Reuters) - Shree Cement Ltd SHCM.NS:

• SHREE CEMENT LTD - GETS TAX DEMAND OF 235.6 MILLION RUPEES

Source text: ID:nBSE4pTFC1

Further company coverage: SHCM.NS

(([email protected];;))

By Hritam Mukherjee

Feb 1 (Reuters) - Indian cement companies' shares fell in a special trading session on Saturday after the government announced a 'modest' spending hike for infrastructure projects in the annual budget , which failed to impress investors.

UltraTech Cement's ULTC.NS shares dropped 2.7%, while those of rival Adani Group's cement firms Ambuja ABUJ.NS and ACC ACC.NS slumped 4.5% and 2.3% respectively.

Other big cement firms - Shree SHCM.NS and Dalmia Bharat DALB.NS - declined 3% and 2% respectively.

The Indian government said it will spend a record 11.21 trillion rupees ($129.54 billion) on infrastructure in the upcoming financial year that begins on April 1, but the increase in planned spending disappointed markets.

"The capex outlay for fiscal year 2026.. looks modest compared to raises made in FY25 and FY24 budget, and misses market expectations slightly," said Amit Anwani, research analyst at Prabhudas Lilladher.

Cement, a key construction material, is a direct beneficiary of government's capital spending. India's infrastructure index .NIFTYINFR reversed gains following the budget announcement, and was last down 1.5%.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H K)

(([email protected]; X: @MukherjeeHritam;))

Jan 30 (Reuters) - Shree Cement Ltd SHCM.NS:

• DIVIDEND OF 50 RUPEES PER SHARE

• DEC-QUARTER CONSOL NET PROFIT 1.93 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 45.73 BILLION RUPEES

Source text: ID:nBSEWbkNG

Further company coverage: SHCM.NS

(([email protected];;))

** Shree Cement SHCM.NS falls 3.8% to 23,500 rupees, lowest since Aug. 21, 2023

** Cement maker's Q2 profit plunges 81% to 931.3 mln rupees ($11 mln), hurt by weak cement prices and demand; rev down 18% to 37.27 bln rupees

** SHCM sees busiest day in more than a week, with over 29,000 shares traded

** Stock rated "hold" on avg; median PT is 26,527.5 rupees - LSEG

** SHCM last down 1.5%, extending YTD fall to 15.9%

($1 = 84.3925 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Nov 11 (Reuters) - Shree Cement Ltd SHCM.NS:

• Q2 PROFIT 931.3 MILLION RUPEES; IBES PROFIT EST. 765.8 MILLION RUPEES

• Q2 REVENUE FROM OPERATIONS 37.27 BILLION RUPEES; IBES EST. 38.91 BILLION RUPEES

Source text: ID:nBSE9wTw1Q

Further company coverage: SHCM.NS

(([email protected];;))

** Shares of India's third-largest cement maker by market cap Shree Cement SHCM.NS down 3%, set for fifth straight session of fall

** SHCM had missed profit estimates on Wednesday, hurt by dampened demand and lower pricing in its core north market

HEADWINDS AHEAD FOR THE NEXT TWO QUARTERS

** Centrum ("add", lowers TP to 26,300 rupees from 28,046 rupees) cuts volumes and pricing estimates for FY25/FY26 EBITDA by 6.1% each after SHCM lowered volume guidance and flagged delay in pricing recovery

** CLSA ("hold"; lowers TP to 28,775 rupees from 25,130 rupees) says meaningful demand uptick likely only at end of this calendar year, could weigh on prices

** Jefferies ("buy", lowers TP to 29,700 rupees from 30,300 rupees) cuts EBITDA by 7%-15% across FY25-FY27 on weak pricing

** Ambit Capital ("sell", raises TP to 21,000 rupees from 19,000 rupees) says with no visible improvement in realization and increased competition amongst its north market dealers, co needs clear strategy and better execution

(Reporting by Anisha Ajith in Bengaluru)

(([email protected];))

Aug 6 (Reuters) - Shree Cement Ltd SHCM.NS:

• Q1 PROFIT 3.18 BILLION RUPEES; IBES PROFIT EST. 5.25 BILLION RUPEES

• Q1 REVENUE FROM OPERATIONS 48.35 BILLION RUPEES; IBES EST. 49.78 BILLION RUPEES

Further company coverage: SHCM.NS

(([email protected];))

Shree Cement Ltd SHCM.NS:

• SHREE CEMENT LTD- APPROVED AMALGAMATION OF SHREE CEMENT NORTH INTO SHREE CEMENT EAST

Source text for Eikon: ID:nBSEcc1S6k

Further company coverage: SHCM.NS

By Neha Arora

NEW DELHI, April 25 (Reuters) - India is in talks with several countries seeking partnerships for technical help on lithium processing, said four sources familiar with the matter, to bolster its nascent lithium mining and electric vehicle industries and avoid relying on China.

India's Ministry of Mines began discussions with Australia and the United States last year, said the four sources, two from India's government and two industry participants. The Indian government and some private companies have also sought help from Bolivia, Britain, Japan, and South Korea, said the sources, who did not wish to be identified as the discussions were not public.

Executives from Russia's TENEX, part of state-owned nuclear energy company Rosatom, approached the Indian government and have held at least two meetings with Indian officials this year, offering lithium processing technology and the possibility of collaborating with Indian companies, said one of the sources, a senior government official with direct knowledge of the plans.

The discussions illustrate efforts by India, the world's third-largest carbon emitter and oil importer, to develop a lithium mining industry that could provide the chemical feedstocks for batteries for its domestic electric vehicle (EV) industry which could help cut its greenhouse gas emissions and oil dependence.

"India needs technology to process lithium and we are looking to collaborate with other countries which have some experience," said the senior government official. "We are aiming to be self-reliant and one of the ways is through partnerships."

TENEX, Russia's Ministry of Industry and Trade and India's Ministry of Mines did not respond to emails from Reuters seeking comments. Russia's Rosatom declined to comment.

New Delhi is in the process of auctioning its first mining rights to lithium blocks, which were discovered last year in the Jammu and Kashmir region and the states of Chhattisgarh.

Companies including SoftBank-backed e-scooter maker Ola Electric, Shree Cement SHCM.NS, state-run Coal India COAL.NS, miner Vedanta Ltd VDAN.NS and Jindal Power are among those bidding for critical minerals blocks, which include lithium, with a shortlist expected by July.

Winners will receive licences to explore and mine lithium, and will also be responsible for processing it as lithium concentrates or lithium chemicals for the battery industry.

Some of the companies that have bid for the lithium mining rights have sought technical help from companies in other countries to set up refining plants, the sources said.

Shree Cement is in talks with an Australian firm seeking technical assistance for a lithium refinery that would cost between $600 million and $700 million, a company source said, without giving the name.

'LONG AND BUMPY'

Even with outside help, it will take a few years before India is ready to convert lithium ores into material for battery manufacturing, analysts said.

"The path to commercialisation is likely to be long and bumpy, especially given that it typically takes anywhere between four to seven years from discovery to commercial production for lithium mines," said Ritabrata Ghosh, vice-president and sector head of corporate ratings at ICRA Ltd.

India needs technical help in ore processing steps such as beneficiation to separate waste rock from ore, and hydrometallurgy, leaching, and pyrometallurgy for separating the metal from the ore, Ghosh said.

In the absence of processing plants, Indian companies would likely ship lithium ores to China and bring the processed metal back to India, said Ganesh Sivamani, research associate at the Centre for Social and Economic Progress, a New Delhi-based think tank.

Neighbour and rival China accounts for almost two-thirds of the world's lithium processing capacity.

The government's top policy think-tank NITI Aayog has recommended incentives for setting up lithium processing plants. India's battery industry will require an annual 56,000 metric tons of lithium carbonate by 2030, according to NITI Aayog.

(Reporting by Neha Arora; Additional reporting by Moscow Bureau, Melanie Burton in Melbourne and Aditi Shah in New Delhi; Editing by Mayank Bhardwaj, Tony Munroe and Christian Schmollinger)

(([email protected]; Twitter: @MayankBhardwaj9;))

April 15 (Reuters) - Shree Cement Ltd SHCM.NS:

• NCLT ALLOWED WITHDRAWAL OF SCHEME TO AMALGAMATE TWO UNITS WITH CO

Source text for Eikon: ID:nBSE6cx62Y

Further company coverage: SHCM.NS

(([email protected];))

April 2 (Reuters) - Shree Cement Ltd SHCM.NS:

• COMMISSIONED INTEGRATED CEMENT PLANT AT GUNTUR DISTRICT OF ANDHRA PRADESH

• COMMISSIONED INTEGRATED CEMENT PLANT WITH CEMENT CAPACITY AT 3.0 MILLION TONNES PER ANNUM

Source text for Eikon: ID:nBSEbRX0Nk

Further company coverage: SHCM.NS

(([email protected];))

March 21 (Reuters) - Shree Cement Ltd SHCM.NS:

• DECIDED TO WITHDRAW SCHEME OF AMALGAMATION WITH UNITS

Source text for Eikon: ID:nBSE7ZTVTL

Further company coverage: SHCM.NS

(([email protected];;))

March 12 (Reuters) - Shree Cement Ltd SHCM.NS:

• ENTERED INTO AN ASSET PURCHASE AGREEMENT WITH STARCRETE LLP

• AGGREGATE AT AGGREGATE CONSIDERATION OF 335 MILLION RUPEES

• CO FORAYS INTO RMC BUSINESS

• AGREEMENT FOR PURCHASE OF FIVE READY MIX CONCRETE PLANT LOCATED IN MUMBAI METROPOLITAN REGION OF MAHARASHTRA

Source text for Eikon: ID:nBSE9fy4Zd

Further company coverage: SHCM.NS

(([email protected];))

Feb 29 (Reuters) - Coal India Ltd COAL.NS:

• INDIA MINES MINISTER: VEDANTA, COAL INDIA, SHREE CEMENT, OLA ELECTRIC, DALMIA GROUP, JINDAL POWER AMONG FIRMS BID FOR CRITICAL MINERALS

Source text for Eikon: [ID:]

Further company coverage: COAL.NS

(([email protected];;))

** Shares of Shree Cement SHCM.NS up 6.6% to over 2-yr high of 30,429.95 rupees

** SHCM's Dec-qtr profit nearly tripled y-o-y and beat analysts' expectations, while revenue rose 20%

** Total sales volume increased 11% to 8.89 mln tonnes

** More than 51,000 shares trade, 1.9x 30-day moving average

** Analysts' avg rating on SHCM, peer Ramco Cements TRCE.NS is "hold", while India Cements ICMN.NS is only stock with "sell" rating - LSEG data

** Peers UltraTech Cement ULTC.NS, Ambuja Cements ABUJ.NS, ACC ACC.NS, Sanghi Industries SNGI.NS rated "buy" - LSEG data

** SNGI, SHCM, ABUJ, ACC up 2%-15% YTD, while TRCE, ICMN and ULTC down 0.4%-3.2%

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))

BENGALURU, Jan 31 (Reuters) - Shree Cement SHCM.NS, India's third-biggest cement company by market capitalisation, reported a bigger-than-expected third-quarter profit on Wednesday, driven by increased volume and easing fuel prices.

Cement companies have been reporting substantial profit growth over the past couple of quarters, led by the housing and infrastructure push by the Indian government ahead of this year's general elections.

The company's profit nearly tripled from the previous year to 7.34 billion rupees ($88.4 million) for the three months ended Dec. 31, topping analysts' average estimate of 5.80 billion rupees, according to LSEG data.

"Strong volume growth, building premium products, and softening of fuel prices have helped us deliver a robust improvement," Managing Director Neeraj Akhoury said in a statement.

Power and fuel costs, constituting nearly a third of total expenses, declined 5%. Its total sales volume climbed 10.7% to 8.89 million tons.

In fiscal 2024, the top four cement makers by market cap, barring market leader UltraTech Cement ULTC.NS, have reported double-digit profit growth in each of the three quarters. UltraTech reported a single-digit growth in the June quarter.

Shree Cement's gross revenue from operations surged 19.3% from a year earlier to 62.02 billion rupees.

Analysts at Elara Capital anticipate strong volume growth for the sector in the fourth quarter, citing the beginning of the busy construction season and increased pre-election government spending.

Earlier this month, market leader UltraTech Cement beat profit estimates, driven by robust demand and price increases.

Shares of Shree Cement closed 1.7% higher ahead of the results.

($1 = 83.0180 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Dhanya Ann Thoppil)

(([email protected]; +91 7982114624;))

BENGALURU, Jan 24 (Reuters) - Indian cement manufacturer Dalmia Bharat DALB.NS reported a 29% rise in third-quarter profit on Wednesday, helped by sustained infrastructure demand.

The New Delhi-based company's consolidated net profit rose to 2.63 billion rupees ($31.7 million) for the quarter ended Dec. 31 from 2.04 billion rupees year ago.

Revenue from operations rose 7.3% to 36 billion rupees, while sales volume rose 8.1% to 6.8 million tonnes.

KEY CONTEXT

Cement makers have been benefiting from a demand surge in the housing and infrastructure sectors, aided further by the government's spending push.

Cement prices in India, on average, rose 2.5% sequentially during the quarter, brokerage Systematix said, helping manufacturers make more from their sales.

Last week, India's top cement manufacturer UltraTech Cement ULTC.NS reported a 68% jump in profit.

OCTOBER-DECEMBER STOCK PERFORMANCE

PEER COMPARISON

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

-- All data from LSEG

($1 = 83.0950 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman

)

(([email protected]; +91 7982114624;))

Jan 22 (Reuters) - Shree Cement Ltd SHCM.NS:

• STARTED COMMERCIAL PRODUCTION AT NAWALGARH CEMENT PLANT SITUATED AT VILLAGE GOTHRA

Source text for Eikon: ID:nBSE5TTQ0t

Further company coverage: SHCM.NS

(([email protected];))

** Shares of Shree Cement SHCM.NS fall as much as 4.6% to lowest in over a month at 27,059.5 rupees

** India's income tax department claims 40 bln rupees ($481 mln) tax demand from the cement producer, CNBC TV-18 said citing sources

** IT dept's survey highlights co wrongfully claimed 85 bln rupees in tax exemption from April 2014 to March 2023, according to CNBC TV-18 sources

** Shares of co were 1.6% lower before the news

** Stock on track to post its biggest intraday pct loss since July 26, 2023

** Avg rating of 35 analysts on SHCM is "hold" and median PT is 25,000 rupees, ~7.8% lower than current price - LSEG data

** Stock rose 23% in 2023, gaining most in a year since 2017

($1 = 83.1625 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

(([email protected] ;))

Dec 14 (Reuters) - Shree Cement Ltd SHCM.NS:

• COMMISSIONED NAWALGARH CEMENT PLANT WITH CLINKER CAPACITY OF 11,500 TONNES PER DAY

• COMMISSIONED NAWALGARH CEMENT PLANT WITH CEMENT CAPACITY AT 3.5 MILLIONS TONNES PER ANNUM

Source text for Eikon: ID:nBSE1NPpwM

Further company coverage: SHCM.NS

(([email protected];))

By Neha Arora

NEW DELHI, Dec 6 (Reuters) - India's Shree Cement SHCM.NS plans to bid for lithium mining rights under a government plan to secure critical minerals production through auctions that are expected to raise more than $5 billion.

A source with direct knowledge of the matter told Reuters the company would apply for the rights to lithium mining blocks in Jammu and Kashmir, the federally administered region where an estimated 5.9 million tonnes of deposits were found in February.

Shree Cement, India's second biggest cement company by market capitalisation, will also bid for blocks in the eastern state of Chhattisgarh, said the source, who asked not to be identified due to the commercial sensitivities.

The move would be Shree Cement's first venture into mining and it has contacted Australia-based mining experts to work out details such as the premium that it should quote in its bid, the source added.

The company is also seeking expert advice on the quality and grades of lithium reserves in Jammu and Kashmir. If it acquires a lithium block there it would team up with an Australian company for technical assistance on setting up a refinery, which would cost around $600-700 million, the source said.

Last week, New Delhi launched the first part of its critical minerals auction that is expected to raise an estimated 450 billion rupees ($5.4 billion) by Feb. 20.

The first tranche, which will cover blocks in a number of regions, will auction 20 blocks and is part of a planned auction of 100 blocks.

India has been exploring ways to secure supplies of lithium, a critical raw material used to make electric vehicle batteries.

Electric vehicles made up about 2% of total car sales in India of 3.9 million last fiscal year but the government wants to grow this to 30% by 2030.

Prime Minister Narendra Modi's government in June this year listed 30 minerals, including lithium, nickel, titanium, vanadium and tungsten, as critical to drive its clean energy push.

India has committed to cutting its emissions intensity - the amount of emissions released relative to its economic growth - by 2030 to 45% of its 2005 level and net zero by 2070.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Jon Boyle)

(([email protected]; Twitter: neha_5 ;))

BENGALURU, Nov 7 (Reuters) - India's Shree Cement SHCM.NS reported a bigger-than-expected rise in second-quarter profit on Tuesday, boosted by strong infrastructure demand ahead of elections.

The company's profit more than doubled to 4.91 billion rupees ($59.00 million) for the three months ended Sept. 30 from 1.90 billion rupees a year earlier.

Analysts, on average, had estimated a profit of 4.67 billion rupees, according to LSEG data.

India, the world's second-largest cement producer, has seen most of its cement companies report a rise in profit during the quarter, helped by the government's infrastructure push ahead of state and general elections.

The country also saw its weakest monsoon since 2018, leading to more days for infrastructure activity.

Shree Cement, India's second-biggest cement company by market capitalisation, said gross revenue from operations rose nearly 20% to 57.61 billion rupees, while total sales volume was up 10% year-on-year at 8.20 million tons.

According to a Jefferies' pre-earning note, cement prices during the quarter increased ~0.5-1% at the all-India level, with the rates rising the most in the country's eastern region.

The price rise comes as the sector faces intense competition as companies increase their capex to ramp up production to maintain market share.

Last year, cement companies were greatly impacted by weak prices and elevated operating costs due to the Russia-Ukraine war.

Cement demand in India is expected to remain robust in the mid-term on account of rising expenditure on infrastructure and housing development, Shree Cement said in a statement.

Last month, larger rival UltraTech Cement ULTC.NS topped second-quarter revenue estimates on strong domestic demand, but Ambuja Cements ABUJ.NS missed analysts' expectations after higher prices dampened sales volumes.

Shares of Shree Cement rose 6.6% during the quarter, underperforming the broader nifty infrastructure index .NIFTYINFR which rose 8.8%.

($1 = 83.2270 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Sohini Goswami)

(([email protected]; +91 7982114624;))

Sept 25 (Reuters) - Shree Cement Ltd SHCM.NS:

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES WITH A BASE ISSUE SIZE OF 3.50 BILLION RUPEES

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES WITH OPTION TO RETAIN OVERSUBSCRIPTION UPTO 3.5 BILLION RUPEES

• APPROVED ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS

Further company coverage: SHCM.NS

(([email protected];))

Sept 19 (Reuters) - Shree Cement Ltd SHCM.NS:

• TO CONSIDER ISSUANCE OF NON-CONVERTIBLE DEBENTURES WORTH UPTO 7 BILLION RUPEES

• TO CONSIDER ISSUANCE OF NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS

Further company coverage: SHCM.NS

(([email protected];))

MUMBAI, Sept 15 (Reuters) - This is a summary of primary market corporate bond deals in India as of 6 p.m. IST (1230 GMT) on Sept. 15. Please note the list includes deals reported by Reuters and is not exhaustive.

Here is the list of deals reported so far on Sept. 15

* Size includes base plus greenshoe for some issues

($1 = 83.1170 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)

(([email protected]))

By Bhakti Tambe

MUMBAI, Sept 12 (Reuters) - India's Shree Cement SHCM.NS is planning to raise 7 billion rupees ($84.43 million) through the sale of bonds, two bankers said on Tuesday.

The company is looking to tap the market later this month with an issue of bonds maturing in five years, they added.

Shree Cement did not immediately respond to a Reuters' email seeking details and has yet to announce the bond sale.

The proposed bonds are rated AAA by CRISIL.

($1 = 82.9128 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)

(([email protected]))

July 28 (Reuters) - Shree Cement Ltd SHCM.NS:

• STARTED COMMERCIAL PRODUCTION AT ITS CLINKER GRINDING UNIT IN PURULIA, WEST BENGAL

Source text for Eikon: ID:nBSEgqlVp

Further company coverage: SHCM.NS

(([email protected];;))

July 26 (Reuters) - Shree Cement Ltd SHCM.NS:

• JUNE-QUARTER PROFIT 5.81 BILLION RUPEES VERSUS 3.16 BILLION RUPEES

• JUNE-QUARTER GROSS REVENUE FROM OPERATIONS 62.55 BILLION RUPEES VERSUS 53.43 BILLION RUPEES

• APPROVED RAISING OF FUNDS VIA ISSUANCE OF CONVERTIBLE DEBENTURES FOR UPTO 10 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SHCM.NS

(([email protected];))

** Shares of Shree Cement SHCM.NS drop as much as 2.5% to 23,418.45 rupees, lowest level since June 26

** Co received a letter from the Ministry of Corporate Affairs for inspection

** The inspection will be conducted under Section 206(5) of the Companies Act, 2013

** More than 57,000 shares change hands by 10:51 a.m. IST, 1.1x the 30-day avg - Refinitiv Data

** Ten out of 39 analysts covering SHCM have a "buy" or higher rating, 14 have "hold" while 15 rate it at "sell" or strong sell; median PT is 24,195 rupees

** As of last close, stock up 3.2% YTD

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

July 19 (Reuters) - Shree Cement Ltd SHCM.NS:

• RECEIVED LETTER FROM OFFICE OF REGIONAL DIRECTOR, MINISTRY OF CORPORATE AFFAIRS INFORMING ORDER OF INSPECTION

Source text for Eikon: ID:nBSEbkW43D

Further company coverage: SHCM.NS

(([email protected];;))